Fulfil your dream of owning your own home with HDFC Ltd. Home Loans. The home loan schemes are offered at an attractive rate of interest and longer tenure. Both self-employed and salaried professionals are eligible to apply for HDFC Ltd. Home Loans. To learn more, read on.

HDFC Home Loan Interest Rate & Charges

Interest Rate

8.65% onwards

Loan Amount

Subject to the market value of the property and repayment capacity of the customer

Loan Tenure

Up to 30 years

Processing Charges

Up to 0.50% of the loan amount

Note:The figures given in the table are indicative and are subject to change as per the loach scheme at HDFC Ltd.’s or RBI’s discretion without prior information.

HDFC Home Loan Features & Benefits

The key features and benefits of HDFC Ltd. Home Loans are as follows:

Offers innovative home loan schemes to help customers purchase a new house or plot

HDFC Home Loan Features & Benefits

Properties in an existing Co-operative Housing Society or Apartment Owners’ Association or Development Authorities settlements or privately built up homes

Offers loans for construction/lease hold plot or on a plot allotted by a Development Authority

Offers special arrangement with AIGF for home loans for those employed in the Indian Army

HDFC Home Loan Amount

Loan Slab

Maximum Loan Amount*

Upto and including Rs. 30 Lakh

90% of the property cost

Rs. 30.01 Lakh to Rs. 75 Lakh

80% of the property cost

Above Rs. 75 Lakh

75% of the property cost

*The maximum funding sanctioned by the lender is subject to the market value of the property and the repayment capacity of the applicant, as assessed by the lender.

HDFC Home Loan Tenure

The maximum loan tenure for HDFC Home Loan will be upto 30 years for the Telescopic Repayment Option under the Adjustable Rate Home Loan.

The HDFC Home Loan tenure is dependent on the applicant’s profile, age of the applicant, age of the property at loan maturity, the repayment scheme as may be opted by the applicant and any other terms which may be applicable as per the prevalent norms of HDFC.

Note: The above HDFC Home Loan Interest Rates are applicable to loans under the Adjustable Rate Home Loan Scheme of HDFC Ltd. and is subject to change at the time of disbursement. The rates given above are variable in nature and thus subject to change as per the change in HDFC’s RPLR.

TruFixed Loan – 2 Year Fixed Rate Variant

Loan Slab

HDFC Home Loan Interest Rates

For Women (Upto 30 Lakh)

9.40% – 9.90%

For Others (Upto 30 Lakh)

9.45% – 9.95%

For Women (30.01 Lakh to 75 Lakh)

9.55% – 10.05%

For Others (30.01 Lakh to 75 Lakh)

9.60% – 10.10%

For Women (75.01 Lakh & Above)

9.60% – 10.10%

For Others (75.01 Lakh & Above)

9.65% – 10.15%

Note:The figures given in the table are indicative and are subject to change at the banks’ or RBI’s discretion without prior information.

HDFC Home Loan Interest Rates for Self-Employed Non Professionals

Adjustable Rate Loan

Loan Slab

HDFC Home Loan Interest Rates

For Women (Upto 30 Lakh)

8.80% – 9.30%

For Others (Upto 30 Lakh)

8.85% – 9.35%

For Women (30.01 Lakh to 75 Lakh)

9.05% – 9.55%

For Others (30.01 Lakh to 75 Lakh)

8.95% – 9.45%

For Women (75.01 Lakh & Above)

9.10% – 9.60%

For Others (75.01 Lakh & Above)

9.15% – 9.65%

Note: The above HDFC Home Loan Interest Rates are applicable to loans under the Adjustable Rate Home Loan Scheme of HDFC Ltd. and is subject to change at the time of disbursement. The rates given above are variable in nature and thus subject to change as per the change in HDFC’s RPLR.

TruFixed Loan – 2 Year Fixed Rate Variant

Loan Slab

HDFC Home Loan Interest Rates

For Women (Upto 30 Lakh)

9.55% – 10.05%

For Others (Upto 30 Lakh)

9.60% – 10.10%

For Women (30.01 Lakh to 75 Lakh)

9.70% – 10.20%

For Others (30.01 Lakh to 75 Lakh)

9.75% – 10.25%

For Women (75.01 Lakh & Above)

9.75% – 10.25%

For Others (75.01 Lakh & Above)

9.80% – 10.30%

Note:The figures given in the table are indicative and are subject to change at the banks’ or RBI’s discretion without prior information.

HDFC Ltd.’s Rural Housing Loan is specially designed to help Agriculturists, Planters, Horticulturists, Dairy Farmers in buying an under construction/new/existing residential property in rural and urban areas. Even salaried/self-employed professionals can apply for it. To know about its special features, click here.

HDFC Reach Loans is a customised financial aid for salaried and self-employed individuals with a minimum income of Rs. 10,000 p.m. and Rs. 2 lakh p.a, respectively. The loan can be used to buy a new or existing home or plot. It can also be used for renovation, extension or construction of both residential and non-residential premise.

Refurbishing or improving a home requires a lot of funds. Knowing this, HDFC Ltd. offers Home Improvement Loans so that its customers can give their home desired makeover without worrying about shortage of funds.

HDFC Ltd. offers Top Up Loan to anyone who needs funds over and above their home loan. The funds can be used for various personal and business purposes. Existing customers as well as new customers, availing HDFC Ltd. Balance Transfer facility can apply for the loan.

Customers who wish to lower their loan repayments can apply for HDFC Ltd. Balance Transfer Facility. Availing the Balance Transfer Facility will also get customers an additional Top Up Loan of up to Rs. 50 lakh.

Aadhaar number(s) of the beneficiary family are mandatory for MIG category

Interest subsidy will be available for a maximum loan tenure of 20 years or the loan tenure availed by the borrower whichever is lower

There is no cap on the loan amount or on the cost of property.

The Net Present Value (NPV) of the interest subsidy will be calculated at a discount rate of 9 %.

The additional loan beyond the specified limits, if any to be at non-subsidized rate.

Key Parameters of Credit Linked Subsidy

CLSS Scheme Type

EWS/LIG

MIG – I**

MIG – II**

Loan Purpose

Purchase/Self Construction/Extension

Purchase/Self Construction

Purchase/Self Construction

Eligibility Household/Family Income

Upto Rs 6 lakh

Between Rs. 6 lakh and Rs. 12 lakh

Between Rs.12 lakh and Rs.18 lakh

Carpet Area-Max

60 sqm

160sqm

200sqm

Subsidy calculated on a maximum loan of

Rs. 6 lakh

Rs. 9 lakh

Rs. 12 lakh

Interest Subsidy

6.50%

4.00%

3.00%

Maximum Subsidy

Rs. 2.67 lakh

Rs. 2.35 lakh

Rs. 2.30 lakh

Validity of scheme

31st March 2022

31st March 2020

31st March 2020

Woman Ownership

Mandatory*

Not Mandatory

Not Mandatory

Note: The PMAY/CLSS is at the sole discretion of the Government of India. The contents given in the table are parameters as mentioned under the scheme.

*Woman ownership is not mandatory for construction/extension

**For MIG – I & II, the loan should be approved on or after January 1, 2017.

PMAY Eligibility Criteria

The PMAY scheme is offered to families, comprising of husband, wife and unmarried children. (An adult earning member irrespective of marital status can be treated as a separate household in MIG category)

The beneficiary family should not own a pucca house in the name of any member of their family anywhere in India.

In case of married couple, either of the spouse or both together in joint ownership will be eligible for a single subsidy.

The beneficiary family should not have availed of central assistance under any housing scheme from the Government of India or any benefit under any scheme in PMAY.

More Details:

For MIG category, Aadhaar number(s) of the beneficiary family are mandatory.

The interest subsidy will be available for maximum loan tenure of 20 years or the loan tenure, whichever is lower.

The interest subsidy will be credited upfront to the loan account of beneficiaries through HDFC resulting in reduced effective housing loan and EMI.

At a discount rate of 9%, the Net Present Value (NPV) of the interest subsidy will be calculated.

The additional loan beyond the specified limits, if any to be at non-subsidized rate.

Up to 1.50% of the Loan amount or Rs. 4500, whichever is higher + taxes and statutory levies and charges, as may be applicable from time to time. Minimum Retention Amount: Rs. 4500

3A

Fees for Top-Up Loan (Salaried, Self Employed Professionals)

Up to 0.50% of the loan amount or Application Rs. 3000, whichever is higher+ taxes and statutory levies and charges, as may be applicable from time to time. Minimum Retention Amount: Rs. 3000

3B

Fees for Top-Up Loan (Self Employed Non-Professionals)

Up to 1.50% of the Loan amount or Rs. 4500, whichever is higher + taxes and statutory levies and charges, as may be applicable from time to time. Minimum Retention Amount: Rs. 4500

4

Fees for Equity/Non-Residential Premises Loans

Up to 1.50% of the Loan amount or Rs. 4500, whichever is higher + taxes and statutory levies and charges, as may be applicable from time to time. Minimum Retention Amount: Rs. 4500

5

Fees for NRI Loans

Up to 1.25% of the Loan amount or Rs. 3000, whichever is higher +taxes and statutory levies and charges, as may be applicable from time to time. Minimum Retention Amount: Rs. 3000

6

Fees for Loans under HDFC Reach Scheme

Up to 1.50% of the loan amount + taxes and statutory levies and charges, as may be applicable from time to time.

7

Fees for Value Plus Loans

Up to 1.50% of the Loan amount or Rs. 3000/- whichever is higher + taxes and statutory levies and charges, as may be applicable from time to time.

Prepayment/Foreclosure Charges

Particulars

Charges

A. Adjustable Rate Loans (ARHL) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Variable Rate of interest

a. For Individual Borrowers:

On part or full prepayment through any source, no prepayment charges will be applicable.

b. For Other than Individual Borrowers: For loans sanctioned with company/ Sole Proprietorship Concern/Firm or a HUF as co-applicants:

· In case the loan is prepaid within the first 6 months from the date of the first disbursement, prepayment charges shall be levied at the rate of 2% + taxes and statutory levies and charges, of the amounts being so prepaid;

· No prepayment charges will be levied if the loan is prepaid up to 25% of the opening principal amount every financial year. Such prepayment can only be made after the completion of the first 6 months and up till 36 months. Also, the prepayment must be made from any source other than a bank or financial institution.

In any financial year, if the amount prepaid is more 25% threshold, prepayment charges shall be levied at 2% of the amounts being so prepaid in excess of 25% every financial year.

No prepayment charges will be levied on the expiry of 36 months, provided the loan is prepaid from own sources. The loan is prepaid through refinancing will attract prepayment charges.

B. Fixed Rate Loans (“FRHL”) and Combination Rate Home Loan (“CRHL”) during the period of applicability of the Fixed Rate of interest

a. For Individual Borrowers:

On part or full prepayment through refinancing from any Bank/HFC/NBFC or Financial Institution and not through own sources, prepayment charges will be applicable at the rate of 2% + applicable taxes and statutory levies and charges, of the outstanding amounts being so prepaid. This is applicable for all loans disbursed.

b. For Other than Individual Borrowers: For loans sanctioned with Sole Proprietorship Concern /Company/Firm or a HUF as co-applicants:

· In case the loan is prepaid within the first 6 months from the date of the first disbursement, prepayment charges shall be levied at the rate of 2% + taxes and statutory levies and charges, of the amounts being so prepaid;

· No prepayment charges will be levied if the loan is prepaid up to 25% of the opening principal amount every financial year. Such prepayment can only be made after the completion of the first 6 months and up till 36 months. Also, the prepayment must be made from any source other than a bank or financial institution.

In any financial year, if the amount prepaid is more 25% threshold, prepayment charges shall be levied at 2% of the amounts being so prepaid in excess of 25% every financial year.

No prepayment charges will be levied on the expiry of 36 months, provided the loan is prepaid from own sources. The loan is prepaid through refinancing will attract prepayment charges.

Customers can apply for HDFC Ltd. home loan singly or jointly. The home loan eligibility criteria for primary and co-applicants and self-employed professionals and non-professionals are given as follows:

Eligibility Criteria for Primary Applicants

Age must be between 18 to 65 years

Both salaried and self-employed professionals can apply

Must be a resident Indian

Eligibility Criteria for Co-applicants:

All co-applicants need not be co-owners. Generally, co-applicants are close family members.

Women borrowers and other individuals working for a select group of companies can apply for this loan

Eligibility Criteria for Self-employed Professionals

Customers who are Doctors, Lawyers, CAs, Architects, Consultants, Engineers, Company Secretary, etc. can apply for Plot Loans as the Self-employed Professionals.

HDFC Limited offers different home loan schemes to cater to different home loan requirements. Therefore, the HDFC home loan eligibility varies from scheme to scheme. It mainly depends on the factors given as follows:

The current age of the applicant – Loan applicant’s age helps lenders to decide the loan tenure. To ensure full repayment of HDFC Ltd. home loans, the lending institution tries to restrict the repayment tenure to the applicant’s retirement age.

Employment details of the applicant and/or co-applicant – Both salaried and self-employed individuals can apply for HDFC Ltd. Home Loans. When considering a loan application, lenders consider the applicant’s stability in a job or business to determine their eligibility. More years in a job or business, the better it is.

The income of the applicant – A stable and sufficient income through a job or business is important to repay the home loan in time. The amount of income generated through a business or job determines if the loan applicant will be able to repay the loan amount on time or not.

On-going financial obligations – The loan applicant’s on-going financial obligations also plays an essential role in determining their repayment capacity. Getting a new loan with an existing one increases the risk of loan default.

Customers’ HDFC Ltd. home loan eligibility can be improved by applying it with an eligible co-applicant.

Following are the home loan documents customers would need to submit for all applicants/co-applicants:

List of HDFC Ltd. Home Loan Documents for Salaried Individuals

Duly filled and signed HDFC Ltd. Home Loan Application Form.

Proof of identity – A copy of any one of the proofs of identity such as Aadhaar, PAN, Passport, Voter ID, Driving License, etc.

Proof of residence – A copy of any one of the proofs of residence such as Aadhaar, Passport, Voter ID, Driving License, etc.

Proof of income – A copy of the following documents:

Last 3 months’ Salary Slips

Last 6 months’ Bank Statements, showing salary credits

Latest Form-16 and IT returns

Property related documents – A copy of the following documents:

For New Homes:

A copy of the Allotment Letter / Buyer Agreement

Receipt/(s) of payment/(s) made to the developer

For Resale Homes:

Title Deeds including previous chain of the property documents

Receipt/(s) of initial payment/(s) made to the seller

A copy of the agreement to sell (if already executed)

For Construction:

Title Deeds of the Plot

Proof of no encumbrances on the property

A copy of the plans, approved by the Local Authorities

Construction estimate by an Architect / Civil engineer

Other related documents – A copy or original of the following documents:

Own Contribution Proof

Employment Contract/Appointment Letter if the current employment is less than a year old

Last 6 months’ Bank Statements showing the repayment of current financial liabilities

Passport size photo of the applicant and co-applicant (if any) affixed on the HDFC Ltd. home loan application form and signed by the applicant across.

Cheque to pay processing fee favouring HDFC Ltd.

List of HDFC Ltd. Home Loan Documents for Self-employed Individuals

Duly filled and signed HDFC Ltd. Home Loan Application Form.

Proof of identity – A copy of any one of the proofs of identity such as Aadhaar, PAN, Passport, Voter ID, Driving License, etc.

Proof of residence – A copy of any one of the proofs of residence such as Aadhaar, Passport, Voter ID, Driving License, etc.

Proof of income – A copy of the following documents:

Income Tax Returns (ITR) along with the calculation of income for the last 3 Assessment Years. These documents are required with respect to both the individual and the business entity. Also, the documents must be attested by a CA.

Balance Sheet and Profit & Loss Account Statements of the last 3 years along with Annexures / Schedules. Again, these documents are required with respect to both the individual and the business entity. All documents must be attested by a CA.

Last 6 months’ Current Account Statements of the business entity and Savings Account Statements of the individual

Property related documents – A copy of the following documents:

For New Homes:

A copy of the Allotment Letter / Buyer Agreement

Receipt/(s) of payment/(s) made to the developer

For Resale Homes:

Title Deeds including previous chain of the property documents

Receipt/(s) of initial payment/(s) made to the seller

A copy of the agreement to sell (if already executed)

For Construction:

Title Deeds of the Plot

Proof of no encumbrances on the property

A copy of the plans, approved by the Local Authorities

Construction estimate by an Architect / Civil engineer

Other related documents – A copy or original of the following documents:

Own Contribution Proof

Business Profile

Latest Form 26 AS

List of Directors and Shareholders with their individual shareholding certified by a CA / CS in case of the business entity being a company

Memorandum and Articles of Association of the Company

Partnership deed if the business is in partnership

Details of current loans of the individual and/or the business entity

Passport size photo of the applicant and co-applicant (if any) affixed on the HDFC Ltd. home loan application form and signed by the applicant across

Cheque to pay processing fee favouring HDFC Ltd.

List of HDFC Ltd. Home Loan Documents for Agriculturists

Signed HDFC Ltd. Rural Housing Loan Application Form

Proof of identity – A copy of any one of the proofs of identity such as Aadhaar, PAN, Passport, Voter ID, Driving License, etc.

Proof of residence – A copy of any one of the proofs of residence such as Aadhaar, Passport, Voter ID, Driving License, etc.

Proof of income – A copy of the following documents:

Title documents of Agricultural Land depicting land holding

Title documents of Agricultural Land depicting crops being cultivated

Bank statements of last 6 months

Other related documents – A copy or original of the following documents:

Bank statements of last 6 months showing the repayment of any on-going loan(s)

Passport size photo of the applicant and co-applicant (if any) affixed on the HDFC Ltd. home loan application form and signed by the applicant across.

Cheque to pay processing fee favouring HDFC Ltd.

Own contribution proof

Statement of the last 2 years of loans availed (if any)

List of Documents for HDFC Balance Transfer Loan

A letter on the letter head of the existing lender stating the list of property documents held by them

Latest outstanding balance letter from your existing financial institution on their letter head

Photocopy of the property documents (including Own Contribution Proof)

Note: All documents must be self-attested. Besides the list of documents mentioned above, the lender may ask for more or less.

Home loans are usually taken for a huge sum of money. Hence, they must be carefully planned in advance to make sure the loan EMIs are paid on time. A tool that can help you estimate the home loan EMI and subsequently plan your monthly budget well in advance is HDFC Home Loan EMI Calculator. Paisabazaar.com offers the facility of Home Loan EMI Calculator absolutely free of cost. Paisabazaar’s Home Loan EMI Calculator provides accurate results and is easy to use. Steps to use Paisabazaar’s Home Loan EMI Calculator are given as follows:

To apply for HDFC Ltd. Home Loan Offline, the prospective home loan borrowers need to visit their nearest branch of HDFC Bank or HDFC Limited. They will need to fill out the Home Loan Application Form, submit the related documents and wait for the loan approval from the lending institution.

How to apply for HDFC Ltd. Home Loan Online?

Customers can apply for HDFC Ltd. Home Loan online through different platforms such as HDFC Netbanking and HDFC Bank’s or HDFC Ltd.’s website.

An alternative way to apply for HDFC Ltd. home loan online is via Paisabazaar.com. The steps to apply for the loan are given below:

Fill out the necessary information about the loan amount required, the type of home loan required, etc.

Provide more details regarding your home loan requirements and personal information such as the cost of the property, your full name, date of birth, etc.

Select the check box to agree on the terms and conditions

Click the View Best Offers button to proceed

The best home loan offers according to your eligibility will appear for customers to compare and select.

Apply for the home loan scheme that suits your requirements the best

Once the process is finished, customers will receive an acknowledgement message, which will include a reference number that they can use to track their HDFC Ltd. home loan application. Customers will also receive a call from Paisabazaar’s home loan experts to take the home loan process forward.

It provides home loans customised to suit the needs of different customers such as Salaried Individuals, Self Employed Professionals, Dairy Farmers, Agriculturists, Planters, etc.

It offers home loans with no hidden charges

It ensures smooth and easy processing of a home loan

It offers counselling and advisory services or acquiring a property

It provides loan approval even before a property is selected

It offers flexible loan repayment options to its customer

Q.What is HDFC Ltd. Home Loan eligibility criteria?

A. HDFC Ltd. Home Loan eligibility criteria vary from one home loan scheme to another. HDFC Ltd. decides a customer’s home loan eligibility by assessing their repayment capacity based on their income, age, educational qualifications, credit history, number of dependants, spouse’s income (if any), assets, current liabilities, job/business stability, the continuity of the business or job, etc.

Q. What is HDFC Ltd. Home Loan Documents requirement?

A. Some of HDFC Ltd. Home Loan documents required at the time of application are:

Identity proof such as Aadhaar, Passport, Voter ID Card, etc.

Income proof such as salary slips or ITR for the last 3 years etc.

Residence proof such as

Property documents such as allotment letter, title deeds of the plot (for construction), etc.

The bank may ask for other documents as well as proof of the information provided in the home loan application form. Therefore, an applicant must always provide the right information in the home loan application form and should keep all the related documents ready.

Q. Who provides home loan – HDFC Bank or HDFC Ltd.?

A. Both HDFC Bank and HDFC Ltd. are part of the HDFC Group but are different entities. HDFC Ltd. is a leading provider of Housing Finance. But HDFC Bank takes care of all banking operations and other financial products. It offers home loans on behalf of HDFC Ltd. There are no preferential home loan interest rates or terms offered by either of the two. So customers can approach any one of the lending institutions to avail a home loan.

Q. How much home loan can a customer get on his/her salary?

A. The loan amount that a customer can get on his/her salary depends on their repayment capacity, which is determined by age, number of dependants, education qualification, current liabilities, credit history, etc.

Q. Which is better between fixed and floating home loan interest rates?

Fixed home loan interest rate: Fixed interest rates remain the same throughout the loan tenure and are a little higher than floating interest rates. It is best suited for customers who are comfortable with their home loan EMIs or expects the home loan interest rates to increase in future. In general, lending institutions levy prepayment penalty on fixed rate home loans.

Floating home loan interest rate: Floating interest rates are not the same throughout the loan tenure. It may change with the change in the lender’s benchmark rate. It is a little lower than the fixed home loan interest rates and customers who expect the home loan interest rates to reduce in future must opt for it. Usually, lenders levy no prepayment penalty on floating rate home loans.

Customers who are unable to decide between fixed rate and floating rate home loans can also opt for partly fixed or partly floating rates as per their needs.